The International Air Transport Association’s (IATA) second World Sustainability Symposium (WSS) will focus on actions needed to achieve the airline industry’s commitment to net-zero CO2 emissions by 2050. The event will take place in Miami, USA on 24-25 September 2024, hosted by American Airlines.
“Sustainability is an existential challenge for humanity as it is for our airline industry. Achieving net-zero CO2 emissions by 2050 is a big and complex task. But working together with the broader aviation industry, and with the support of governments, we will get there. WSS is a unique opportunity to bring all stakeholders together to learn, align and take the critical actions needed to galvanize our determination and accelerate progress,” said Willie Walsh, IATA’s Director General.
Key elements to help achieve net-zero CO2 emissions by 2050 being addressed at the WSS include:
- Decarbonization: Focusing on aviation’s transition to net-zero CO2 emissions, including how to develop, scale, and deliver the solutions necessary to decarbonize aviation over the 25 years to 2050. Discussions will address how to build the markets for Sustainable Aviation Fuel (SAF), carbon removals, and other nascent technologies, and the challenges involved in financing such projects.
- Innovation and Technology: Exploring new aircraft technologies and operational innovations with a focus on the practical aspects of implementing new technologies rapidly to advance the industry’s net-zero CO2 emissions goal.
- Policy and Regulation: Examining the global policy landscape aimed at achieving net-zero CO2 emissions, particularly related to SAF, and the complexities of aligning global regulations and harmonizing SAF policies to scale up production and deployment.
- Finance and Transparency: Looking at investment challenges; what are the difficulties and opportunities in financing renewable energy projects and SAF production, and how to make the investment case more attractive to stakeholders. The focus will be on strategies for attracting capital, transferring risk, and on what innovation is needed to finance the industry’s transition to net zero. Transparency will also be addressed as it is an essential part of the investment challenge in terms of fostering informed and science-based decision-making among investors, airlines, and other stakeholders.
“The WSS aims to unite decision makers across the public and private sectors, and across all areas of government, with the objective of decarbonizing air transportation. Aviation’s energy transition needs support beyond transportation ministries as it touches upon nearly all areas of the global, regional, and local economies and societies. Radical collaboration is needed to engage technology, policy, and finance and unite with a single-minded purpose to reach net-zero CO2 emissions by 2050. The mission is urgent, as a multitude of new markets need to reach maturity in the short 25 years to 2050. The WSS is the agenda-setting event that can accelerate progress as we tackle this enormous challenge,” said Marie Owens Thomsen, IATA’s Senior Vice President Sustainability and Chief Economist.